Consumer Cos Up on Black Friday Hopes -- Consumer Roundup

Dow Jones11-26

Consumer companies rose sharply as optimism built ahead of the kickoff to the holiday-shopping season.

Shares of department-store chain Macy's fell after it delayed its third-quarter earnings report due to the discovery that a single employee had hidden up to $154 million in corporate delivery expenses over several years, prompting an investigation.

Losses were buffered by reports that Macy's was in a potentially lucrative contract negotiations with NBC over extending televisual rights to its annual Thanksgiving Day parade.

Bath & Body Works shares rallied after the toiletry supplier boosted its growth projection for the year.

A ransomware attack against a major supply chain technology provider left retailers including Starbucks and U.K. grocery chain Sainsbury's scrambling to manage operations, including scheduling and handling inventories.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

November 25, 2024 17:10 ET (22:10 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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